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Traditional life insurance that is paid-up at age 65
Whole Life Insurance 65 from Thrivent Financial for Lutherans is permanent life insurance designed to provide coverage for your lifetime. With this contract, you also will have paid-up insurance at age 65, with no more premiums to pay.
By purchasing Whole Life 65 for a child, you can provide an early foundation of permanent life insurance for the child to carry forward into adulthood. Plus, if you purchase an optional Guaranteed Purchase Option Benefit Rider along with a child's Whole Life 65 contract, you guarantee that child will be able to obtain additional life insurance coverage at certain times later in life.
The guarantees Whole Life 65 provides include:
- Level coverage for your lifetime
Generally, as long as your premiums are paid, your death benefit will never decrease or end, regardless of subsequent changes to your health
- Level premiums
You know exactly how much your premium payments will be-and that you won't need to pay any additional premiums after age 65.
- Cash value
The guaranteed cash value built up inside your contract will not be affected by changing interest rates or investment performance. While the guaranteed cash value increases year by year, it is not paid in addition to death proceeds. You may access your cash value through a contract loan.1
- Dividend distribution
You participate in Thrivent Financial's dividend distribution, though it's important to note that dividends are not guaranteed.
1Loans and surrenders will decrease the death proceeds and the cash surrender value. Surrenders may generate an income tax liability. A significant taxable event can occur if a contract terminates with outstanding debt. Dividends may be affected by loans. Loan interest is charged in arrears at an annual rate of 8%.
This information applies to Whole Life Insurance contract form L-WX-WL (08) and ICC08 L-WX-WL. Product may not be approved in all states.
Guarantees are backed by the claims-paying ability of Thrivent Financial for Lutherans.
Contact your financial representative for costs and complete details of coverage. Like most insurance contracts, this contract has exclusions, limitations, reductions of benefits and terms under which the contract may be continued in force or discontinued.
Please note that neither Thrivent Financial for Lutherans nor any of its agents give legal or tax advice. The brief discussion of taxes in this section is neither complete nor necessarily up-to-date; the laws and regulations are complex and subject to change. A transfer of the contract, a change in the owner or change in the beneficiary may have tax consequences depending on the particular circumstances. For complete details, consult with your attorney or tax advisor. The description of benefits in this section is brief and does not constitute, in itself, a contract.
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